Market Update October 2025

October Snapshot

Metro Vancouver’s fall market continued to cool. Residential sales reached 2,255 (REBGV 2025-10) and sat 14.5% below the 10‑year seasonal average (REBGV 2025-10). New listings were steady at 5,438 (REBGV 2025-10), while total active listings climbed to 16,393 (REBGV 2025-10), the highest level in years. Prices eased across segments as sales-to-active listings ratios held in the mid-teens.

Sales & Listings Momentum

Sales fell 14.3% year over year to 2,255 (REBGV 2025-10), and remained 14.5% under the decade seasonal norm (REBGV 2025-10). October is usually the last month with a seasonal lift, but activity stayed muted. New listings came in at 5,438, essentially flat versus last year (REBGV 2025-10), and 16.3% above the 10‑year seasonal average, signalling sellers remain engaged (REBGV 2025-10).

Active inventory reached 16,393, up 13.2% year over year and 35.9% above the 10‑year seasonal average (REBGV 2025-10). With more choice and slower absorption, conditions favoured buyers in many sub‑markets.

Price Trends

The composite benchmark price for all homes was $1,132,500, down 0.8% from September and 3.4% below October 2024 (REBGV 2025-10). Detached benchmark was $1,916,400 (‑0.9% m/m; ‑4.3% y/y) (REBGV 2025-10), townhomes were $1,066,700 (‑0.3% m/m; ‑3.8% y/y) (REBGV 2025-10), and apartments were $718,900 (‑1.4% m/m; ‑5.1% y/y) (REBGV 2025-10).

Supply–Demand Balance

The sales‑to‑active listings ratio (SALR) registered 14.2% overall (REBGV 2025-10), with detached at 11.3%, townhomes at 17.6%, and apartments at 15.5% (REBGV 2025-10). Historically, sustained readings below ~12% tend to put downward pressure on prices, while levels above ~20% point to upward pressure (REBGV 2025-10).

Policy Watch

GVR noted the Bank of Canada’s fourth policy rate cut of the year in October, which wasn’t enough to pull more buyers off the sidelines (REBGV 2025-10). With no additional cuts expected in 2025 per GVR’s commentary, borrowing costs should stabilize into year‑end (REBGV 2025-10).

Why It Matters

• Buyers have more selection and greater negotiating room as active listings sit high (REBGV 2025-10).
• Pricing drift is modest but broad‑based, with the composite down 0.8% month over month (REBGV 2025-10).
• Segment SALRs in the mid‑teens point to balanced‑to‑soft conditions rather than a sharp correction (REBGV 2025-10).
• Condo values continue to adjust, with the apartment benchmark at $718,900 (REBGV 2025-10).
• Detached remains the softest segment by SALR (11.3%), keeping move‑up options comparatively attractive (REBGV 2025-10).

REBGV October 2025 Metrics

• Detached: 693 sales; benchmark $1,916,400 (‑0.9% m/m; ‑4.3% y/y) (REBGV 2025-10)
• Townhome: 477 sales; benchmark $1,066,700 (‑0.3% m/m; ‑3.8% y/y) (REBGV 2025-10)
• Apartment: 1,071 sales; benchmark $718,900 (‑1.4% m/m; ‑5.1% y/y) (REBGV 2025-10)
• Total: 2,255 sales; new listings 5,438; active listings 16,393; SALR 14.2% (REBGV 2025-10)

Extended Analysis

Macro‑Economic Context

Rate relief arrived in October but affordability constraints remain tight after the prior hiking cycle. GVR’s release highlights that even with multiple cuts in 2025, October activity lagged the 10‑year norm (REBGV 2025-10). Price adjustments have been orderly so far, consistent with mid‑teens SALR readings.

Sub‑Market Highlights

North Vancouver and Vancouver West posted mixed signals: inventories remain elevated while benchmarks eased month over month across most segments (REBGV 2025-10). Apartment values in several inner‑city pockets slipped further than the composite, reflecting greater sensitivity to monthly payment dynamics (REBGV 2025-10).

Forward‑Looking Indicators

With listings still above seasonal norms and sales below average, late‑fall pricing risk skews mildly to the downside. A broader re‑acceleration would likely require a clearer rate path or stronger job gains. For now, expect incremental month‑to‑month moves rather than sharp swings (REBGV 2025-10).

This article is for informational purposes only. Statistics and market conditions are current as of the publication date and may change without notice. It is not legal or financial advice. Always verify details and consult qualified professionals before making real-estate decisions.